I've been on both sides of the VC funding shenanigans. Like footflaps says, they'll want money eventually but super-early stage is more of a coin toss, they'll invest in a bunch of companies and then leave the crap ones to die (or survive without extra funding at least)

Angels too small generally and anyone (VCs) willing to provide funding deserves its pound of flesh - I have no problems with that aspect! Looking for a two phase investment, initially 700k to build and run the pilot phase followed by a lot more!!

Difficult place that we find ourselves in being both early stage and with high capital requirements. We have support from household name companies prominent in their fields but our technology will have these organisations as both suppliers and customers - not sufficiently core for them to invest cash.

VCs that I have approached pretty much want guarantees and seem to have lost their 'venture' aspect!!

I guess a single investor is what I am looking for - its trying to find them! We have a couple of UK based organisations interested and a couple of more random overseas funds. I need more options though! £700k tends to be significant even for single high net worth individuals!

Pretty standard amounts for a company making stuff. Normal seed funding is around $1m, then normally a 1st round of $5m ish 12-18 months later. I know companies who have raised that both from Angels and VCs.

I'm a start up with technology externally verified by a well known engineering consultancy. I have the pilot designed and costed by another well known process engineering outfit but I'm not linked to a university. The technology is patented here with applications pending overseas. The technology is market focussed rather than a hair brained idea that will save the world!

NB Think we've had about $100m so far from VCs, although it was never expected we'd last this long without either folding or an IPO. Seem to be stuck in the no-man's land of too big to let fail, yet not quite big enough to 'make it big'.

Too small for VC interest I'd imagine at a £700k raise. I would look at Angel syndicates which would be much more around this level and frankly have a bigger appetite for risk with the various EIS incentives.

Not at all. It's only a seed round, so they like to start small and if the milestones are met, they'll follow on with substantially more....

Our first round was $1m = £700k ish. We've since had another $99m in several follow on rounds. As the rounds get bigger, you normally add bigger funds e.g. we have added Samsung and Accel along the way.